Students
Acceptable Inventions
PennVention accepts invention ideas pertaining to a broad range of industries including:
- Consumer products
- Medical devices
- Environmental devices
- Electronics
- High-Tech products
- Deemed to be in violation of the University's Code of Conduct and Code of Academic Integrity
- Violates any local, state or national law
- Appears to be pornographic in nature
For the Achievement Round students must submit a Concept Deck of up to 10 Power point slides by the February deadline. In order to assist you, a sample has been placed under downloads. This is meant to be a guide. Concept Decks must be converted to PDF. You can download a free PDF converter here. The Weiss Tech House also had PDF converters on their computers. Submissions not in PDF format or submitted late will not be accepted. Do not include the names of the team members on the submission.
Teams may choose to include the following optional disclaimer as a footer on their presentation deck. This disclaimer, not a legally binding agreement, will also help to preserve any patentable rights the submitted invention may have:
Team Requirements:
- Any team with at least one active member who is a degree-candidate student of the University of Pennsylvania (graduate or undergraduate) may enter. A degree-candidate student of the University of Pennsylvania must show that he/she was an active member throughout the creation and development process, register the team with a University of Pennsylvania email address, and serve as the team leader. A standard partnership agreement is available for teams participating in PennVention. A partnership agreement is not required to enter the contest but is available to teams should they desire a formal partnership. Click here to visit the forms and downloads section.
- There is no limit as to the maximum or minimum number of people on each team.
- Individual students may enter.
- An individual may participate on more than one team and/or submit more than one invention.
- At least one team member must have been substantially involved in the actual creation of the invention submitted to PennVention.
- All original inventors of the invention must consent to its submission to PennVention.
Eligibility:
- Teams that have received twenty-five thousand dollars or more from Angel Investors before February 10, 2008 will not be eligible to apply for the Achievement Round
- Last year's top three winners cannot participate in this year's PennVention competition with the same idea.
Additional Rules and Responsibilities
- If the invention has a patent or a part of a patent is owned by an entity other then the participating team or individual team members, the team must disclose the patent and owner in all submission documents.
- No participant may under any circumstances attempt to contact a judge during or before the competition. Any such behavior will result in the disqualification of the participant and his/her team from PennVention.
- Recognizing that mentors have significant time constraints, teams are expected to be well prepared and focused during all meetings with mentor. No-shows (for either phone or in-person meetings) will result in the immediate disqualification from PennVention and will not be permitted to apply for a later round either with the current idea, or a new idea. At various stages in the competition, both the team and its mentor are expected to evaluate and provide feedback on aspects their relationship to PennVention.
Participants who have any questions regarding potential conflicts of interest for any judges at any stage of PennVention should address them immediately to pennvent@seas.upenn.edu.
Click here to register for PennVention 2008.
PennVention honors the confidentiality of all participants' inventions and ideas that are submitted. Any materials submitted will not be copied or viewed for any purposes other than use in PennVention.
Judges, mentors and organizers will have access to invention submissions. Judges and mentors are selected on the basis of their experience and reputation and are asked and expected to use the same care and respect for confidentiality as they do in reviewing designs, business ideas and product concepts in their everyday lives. Many actual and prospective participants in PennVention are concerned that confidentiality agreements be secured; however, as a matter of convention and practicality, confidentiality agreements are not signed as part of the PennVention.
Teams may choose to include the following optional disclaimer on the cover sheet of their submissions, recognizing that it is not a legally binding agreement:
This disclaimer will also help to preserve any patentable rights the submitted invention may have.
Students at the University of Pennsylvania who develop new technologies and/or new ventures while enrolled at the University can be assured that the University does not have a claim on the intellectual property of the student's technology or venture unless one of the following applies:
- The student has worked with compensation under the direct supervision of a faculty member or researcher whose costs are being borne at least in part by the University for that specific idea.
- The student has worked under a research grant or other research sponsorship that specific idea.
- The student is commercializing a technology or discovery that was made by a faculty member or other University researcher.
- The student has engaged services of a University department and has agreed otherwise as a condition of receiving such services
These provisions do not apply to individuals who are paid salaries by the University of Pennsylvania. In general, except as noted above, tuition-paying students are encouraged to put their efforts into seeking the advice and facilitation of faculty members and other resources at the University with the assurance that such action in itself will not result in an intellectual property claim on their work by the University.
Click here to register for PennVention 2008.
Judges will receive a sheet that will score teams on the information listed below.
Invention- The team has clearly articulated the need the invention addresses.
- The team has clearly articulated many different alternative ways to address the need and potential uses.
- The team has clearly described the invention (include the quality of the design drawing, if applicable).
- The team has proven that the invention is the best of the alternatives.
- The invention has “wow” appeal.
Market Analysis
- There is a sizable market for this invention.
- The team has identified intended customer types and market segments.
- The team has proven whether the invention requires a change in customer behavior or rather fits within the existing customer behavior.
- The team has identified all prospective competitors and differentiated their products.
- The team has described the barriers to competition and the likely commercial life expectancy of the invention.
Implementation and Commercialization
- The team has identified and addressed the risk factors in developing the inventions (i.e. Will it work?)
- The team has identified and addressed the risk factors in producing and/or delivering the invention (i.e. Can it be made?)
- The team has determined that the basic economics of the invention work (price vs. cost.)
- The team has validated the functionality of the invention.
Intellectual Property
- This is a unique idea.
- The team has showed how well a patent could exclude others from meeting the articulated need in a cost-competitive way.
- The invention has not been publicly disclosed more than a year in advance of filing a patent. (see Chapter 14 of “Product Design and Development Third Edition” by Karl T. Ulrich and Steven D. Eppinger. There is a copy of this book on reserve at the Weiss Tech House.)
- The team has identified regulatory and legal hurdles.
Inventor Team
- The team has demonstrated commitment and effort in preparing the submission.
- The team has the background or experience to make a successful prototype.
- The team has assembled appropriate advisors to assist in the process.